A man takes a car loan of ₹6,00,000 at

CUET Preparation Today

Start Free Mocks

Home Questions 7WCZMYN63P

Target Exam

CUET

Subject

-- Mathematics - Section B2

Chapter

Financial Mathematics

Question:

A man takes a car loan of ₹6,00,000 at an interest rate of 12% per annum from a bank for 2 years. The EMI under flat rate system is:

Options:

₹31,000

₹24,000

₹30,000

₹36,000

Correct Answer:

₹31,000

Explanation:

The correct answer is Option (1) → ₹31,000